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TARGUS Procurement Academy

TARGUS Procurement Academy
by Florian Geiger

TARGUS Procurement Academy – facilitate and standardize

The purchasing function faces many challenges: increasing internationalization, new technologies, multi-project management and early inclusion in product development are only a few areas that purchasing agents must increasingly contend with today. However employee education often does not keep up with increasing demands. The Procurement Academy developed by TARGUS provides individual hands-on training of employees – so called „on the job procurement training“.

TARGUS Procurement Academy versus gaps in qualification

Whether diverse processes in different company departments or lack of availability of trained and experienced procurement staff, companies can quickly address qualification/recruiting gaps that can cost millions.

Example:

  • If applied to only 35% of purchasing volumes,
  • achieving 3% better results with improved negotiation preparation,
  • correlates to costs savings of 1% of the entire procurement volume.
  • Achieved through a short, case-by-case training of a few employees.

That is the approach of the TARGUS Procurement Academy: achieve sustainable cost savings in procurement through focused, effective employee training.

Our TARGUS Procurement Academy training box

That is why we have developed the TARGUS Procurement Academy. Our training box encompasses the entire purchasing process. It is divided however into sub-modules with numerous individual modules which may be utilized separately or together. The difference from conventional training is that each theoretical module is always illustrated with real examples and participants are given the opportunity to participate actively in the training through case studies and exercises and through the high emphasis on real life situations.

TARGUS Procurement Academy L - TARGUS Procurement Academy

TARGUS Procurement Academy tailored to your requirements

The TARGUS Procurement Academy is a dynamic learning system that can be precisely tailored to our customer’s requirements. Depending on the situation at hand, we conduct our analysis of your training requirements or present a tailored training proposal based on the TARGUS Procurement Academy and your company’s requirements. Besides the available methods and procedures that TARGUS brings to the training, customer-specific input is also included. Therefore our experienced Consultants and Trainers adapt the contents and intensity of the customized Procurement Academy in line with individual customer wishes and needs.

Typical Results from the TARGUS Procurement Academy

In practice it has proved valuable to implement training components as part of a project so that in addition to improving your employees’ qualifications, a measurable contribution to company profitability can also be ensured.

Some pertinent topics would be:

  • The development of a commodity group strategy in the framework of a material cost initiative,
  • The implementation of product cost optimization together with the development,
  • The introduction of Supplier Quality Management.

But the TARGUS Procurement Academy has also been successfully implemented for many other topics. The advantage of a project-linked approach is that in this manner uniform and efficient procedures can be defined and sustainably anchored in the organization.

Through in-house sessions the focused training of larger groups of employees provides significant financial advantages compared to individual training off-site. Your education and training budgets can be optimized through the TARGUS Procurement Academy.

TARGUS Procurement Academy in practice

Project example: In-House Customer Procurement Academy

While conducting a Material Cost Management (MCM)-Project at a rapidly growing engineering company our consultants determined that significant deficiencies existed in the qualification of the procurement personnel. Because of the strong internationalization of procurement arena (China, India, USA) and the resulting decentralization there was no consistent approach for the purchasing agents.

Together with the director of strategic procurement, TARGUS developed an individualized training series tailored for the company. In addition to the preparation of the appropriate materials in German and English the goal of the project was also to qualify more in-house trainers in the methodology.

The TARGUS consultants assumed the role of coaches and further developed the customer employees using the Train-the-Trainer approach. After completing the first two training waves the in-house trainers were qualified so well that they could independently conduct the lessons in all locations within the company. Afterwards the reaction of the company’s procurement agents which had initially ranged from reluctant to critical made a complete about-face. Now the employees perceive the coaching as very helpful and the systematic training program has established itself strongly in the company culture. Additionally a forum for the exchange of information/experiences between the purchasing agents was created to allow knowledge and lessons learned to be introduced and shared among the group.